Small Business

Indiabulls Financial reduces Suzlon stake to 0.06%

Wind power major Suzlon Energy today said financial services major Indiabulls Financial Services has reduced stake in the company to 0.6 per cent, by way of releasing pledged shares. - Suzlon bags 27 MW wind power order from ITC - Expect moderate returns in 2010 - Societe Generale to devise new strategy for insurance sector - Suzlon Energy: Inching ahead - Indiabulls Financial ends life insurance JV with Sogecap - Suzlon repays $780-mn loan for Hansen acquisition As per a disclosure about pledged shares filed by Suzlon Energy with the Bombay Stock Exchange, Indiabulls Financial Services" stake in the wind turbine supplier has reduced to 0.06 per cent, from 5.42 per cent earlier. Indiabulls has released 8.33 crore shares representing 5.36 per cent stake in the company on January 1, 2010. At the end of the September quarter, the promoters held 53.08 per cent stake in Suzlon. Besides, a total of 43.28 per cent of the promoter holding was pledged, as per the shareholding pattern as on September 30. Shares of Suzlon were trading at Rs 90.50, up 0.17 per cent over last closing on the BSE.

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